M-real Corporation Stock Exchange Bulletin 9.3.2007 Moody's Investors Service has today downgraded M-real Corporation's B2 rating to B3. The outlook of the rating was changed from negative to stable. Downgrade has an annual impact of approximately EUR 2.5 million on M-real's current financing costs. M-REAL CORPORATION Further information Seppo Parvi, CFO, tel. +358 10 469 4321